Winter Sports Equipment Market to Reach $32.83 Bn, Globally, by 2031 at 8.5% CAGR: Allied Market Research

·6 min read

Introduction of government sports initiatives in emerging economies boosts the global winter sports equipment market growth.

PORTLAND, Ore., Aug. 11, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Winter Sports Equipment Market by Product Type (Ski equipment, Footwear, Protective gear, other), by Sports (Snowboarding, Skiing, Ice hockey, Others), by Distribution Channel (Online, Offline): Global Opportunity Analysis and Industry Forecast, 2021-2031." According to the report, the global winter sports equipment market garnered revenue worth $14.69 billion in 2021, and is predicted to hit $32.83 billion by 2031, registering a CAGR of 8.5% from 2022 to 2031. The market research study provides a detailed analysis of changing industry trends, top-most segments, value chain analysis, key investment business scenarios, regional space, and competitive space.

Allied_Market_Research_Logo
Allied_Market_Research_Logo

Prime determinants of growth

Introduction of government sports initiatives in emerging economies and rise in awareness about physical fitness and sports as well as exercises enhanced popularity of winter sports equipment and clothing drive the growth of the global winter sports equipment market. Moreover, demand for sporting goods and sports activities among youth and improvements in design of sporting products supplements the market growth. On the other hand, increase in interest of the people in recreation activities over sports activities creates new opportunities. Contrarily, burgeoning trends of gifting the winter sports equipment and clothes among population belonging to various age-groups present new opportunities.

Request Sample Report at:- https://www.alliedmarketresearch.com/request-sample/17282

Covid-19 Scenario

  • The COVID-19 pandemic adversely impacted the expansion of the global winter sports equipment market, owing to halting of organizing of the sports events across the globe.

  • Lockdown during the COVID-19 pandemic led to a low production and sale of winter sports equipment, thereby hindering the global market growth.

The offline segment to retain its leadership position during the forecast timespan

In terms of the distribution channel, the offline segment contributed the largest market share in 2021, accounting for more than four-fifths of the overall share of the global winter sports equipment market. Moreover, this segment is predicted to retain its leadership position during the forecast timespan. In addition, the offline segment is set to record the fastest CAGR of nearly 8.6% from 2022 to 2031. The report also provides an overall analysis of segments such as the online.

The ski segment is predicted to account for the highest market share by 2031

On basis of product type, the ski segment held the largest share in 2021, contributing nearly two-fifths of the overall share of the global winter sports equipment market. Moreover, this segment is predicted to account for the highest market share by 2031. However, the protective gear segment is also anticipated to record the highest growth with a CAGR of nearly 9.3% during the forecast timeline. The report also provides an overall analysis of segments such as the footwear and other.

The skiing segment is set to retain its dominant status during the forecast timeframe

Based on the sports, the skiing segment held the largest share in 2021, accounting more than two-fifths of the overall share of the global winter sports equipment market. Moreover, this segment is set to retain its dominant status during the forecast timeframe. This is due to increase in programs to increase skiing participation and an increase in the number of people who pursue skiing as a recreational activity. However, the snowboarding segment is projected to register the highest CAGR of nearly 9.1% from 2022 to 2031.

Europe is predicted to contribute majorly toward the global market share in 2031

Based on region, Europe contributed towards the highest market share in 2021, accounting for nearly three-fifths of the global winter sports equipment market share. Moreover, the region is predicted to contribute majorly toward the global market share in 2031. This is due to rise in the number of women participating in outdoor activities and the acceptance of winter sports clothing as a fashion accessory. However, the Asia-Pacific winter sports equipment market is also anticipated to register the highest CAGR of 10.9% during the forecast period. The research also analyzes regions including LAMEA and North America.

For Purchase Enquiry at:- https://www.alliedmarketresearch.com/purchase-enquiry/17282

Leading market players

  • Alpina Sports

  • Amer Sports

  • BAUER Hockey, LLC

  • Black Crows

  • Clarus Corporation

  • ELAN, D.O.O.

  • Fischer Sports GmbH

  • Head UK Ltd.

  • Icelantic Skis

  • K2 Sports LLC

  • MDV Sports

  • Rossignol Group

  • Tecnica Group S.p.A.

  • SCOTT Sports SA

  • Under Armour Inc

  • Völkl Int. Gmbh

The report evaluates these major participants in the global winter sports equipment industry. These participants have executed a slew of key business strategies such as the expansion of regional and customer base, product development, strategic collaborations, and joint ventures for expanding product widths in the global markets. The market research report supports the performance monitoring of each segment, positioning of each product in respective segments, and the impact of new technology and product launches on the overall market size.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Similar Reports:

Athletic Footwear Market: Global Opportunity Analysis and Industry Forecast, 2021–2030

Fitness Equipment Market: Global Opportunity Analysis and Industry Forecast 2021–2028

Bicycle Market: Global Opportunity Analysis and Industry Forecast 2021-2027

Football Sportswear Market: Global Opportunity Analysis and Industry Forecast 2021-2027

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

Cision
Cision

View original content:https://www.prnewswire.com/news-releases/winter-sports-equipment-market-to-reach-32-83-bn-globally-by-2031-at-8-5-cagr-allied-market-research-301603704.html

SOURCE Allied Market Research